RISK FACTORS IN FINANCING POLISH TRANSPORT INFRASTRUCTURE BY PUBLIC–PRIVATE PARTNERSHIP

  • Stanisław Miecznikowski

Abstract

Efficient transport is an important determinant of the integration EU members. Created by the European commission TEN-T is to ensure the mobility of the citizens Community, as well as fast and safety trade. However, European transport infrastructure is characterized by large variations in the level of development that occurs on the east and west of the EU. In Poland, the level the infrastructure is technically unadjusted to the current transport needs and preferences. Modernization and development of infrastructure requires large capital expenditures that must be incurred in the short term. At the same time the public finance sector is overloaded, and the budget deficit is common European countries and government around the world are more often likely to engage the private sector to finance infrastructure. The usual form of involvement of private sector is the public-private partnership (PPP). But not all project are successful. Achieving the tangible benefits of PPP requires the creation of appropriate conditions conductive to its implementation.


The aim of the paper is the identification and analysis of risk factors for PPP implemented in transport infrastructural projects in Poland. The researched literature shows that there are many factors and their related to various aspects and stages of implementation of the PPP. The factors are classified into four groups: financial and economic, political and legal, technical, and social. Those, that have a significant impact on transport infrastructure include: stable macroeconomic situation of the country, political support and commitment of the government, legal system, well – organized public consulting agencies, financial market availability, credible and experienced private investors. In Poland, the most important factors that are necessary for success in the implementation of PPP project are: support of the government and its institutions, legal framework and regulations and the existence of the adequate public advisory bodies. For the past 25 years, these conditions have not be fully met and formed the risk to the development of the partnership. The consequence of the lack of public advisory bodies is a low level of knowledge on PPP in public administration as well as banks. That is the case of limits and availability of the financial market for private partner investment. It’s make clear statement that PPP in Poland is risky joint-ventures investment.

Published
Feb 7, 2019
How to Cite
MIECZNIKOWSKI, Stanisław. RISK FACTORS IN FINANCING POLISH TRANSPORT INFRASTRUCTURE BY PUBLIC–PRIVATE PARTNERSHIP. Transport Economics and Logistics, [S.l.], v. 75, p. 49-61, feb. 2019. ISSN 2657-6104. Available at: <http://www.znetil.ug.edu.pl/index.php/etil/article/view/237>. Date accessed: 22 nov. 2019.
Section
Transportation services market